Local Corp. (LOCM) Files Voluntary Petition Under Chapter 11

June 24, 2015 7:52 AM EDT
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On June 23, 2015, Local Corp. (NASDAQ: LOCM) filed a voluntary petition in the United States Bankruptcy Court for the Central District of California (the “Bankruptcy Court”) for reorganization relief (“Reorganization”) under Chapter 11 of title 11 of the United States Code, U.S.C. §§ 101 et seq., as amended (the “Bankruptcy Code”). A creditors’ committee has not yet been appointed in this case by the United States Trustee. The Debtor will continue to operate its business and manage its properties as debtor in possession under the jurisdiction of the Bankruptcy Court and in accordance with the applicable provisions of the Bankruptcy Code and orders of the Bankruptcy Court.

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